Making money on the internet is very attractive. You can work from the comfort of home. Best of all, you have the flexibility to decide how you want to run your business. In fact, you can combine several ways of making money online to increase your earnings exponentially.
I have listed several money-making methods below. How many are you using to make money on the Internet?
1. Affiliate marketing
This is the most common form of Internet business. In its simplest form, you make a commission when you refer someone to an affiliate website and they buy something. There are tons of affiliate products and services on the Internet. Look out for those with high conversion rates.
Commissions from affiliate programs can be one-off or recurring. Recurring commissions are commonly from subscription based products such as web hosting services or a membership site. You get paid regularly, as long as the subscriber you referred continues to pay for the product or service. This is a good way to build up passive income.
2. Direct retail
If you own an offline business, have access to goods at wholesale prices or make your own products, selling them online would be a good idea. You can sell them on your own website, or simply list them on an auction site. This is a quick way to expand your market. Once you start selling online, you can basically sell to anyone, anywhere in the world. The world is your oyster
There is a downside to this. When selling online, you will have to devote time and energy to customer support, packaging, storage, shipping etc. This can take up valuable time and resources, and detract you from the real task at hand - selling and making money online. Having said that, it can be very lucrative if you are willing to put in the time and effort.
3. Network marketing
There are many online network marketing businesses you can join. The beauty of this model is that you can do it online and offline. Showing your prospects your website when you meet them can be a powerful way to reinforce your sales pitch.
4. Email marketing
This is a very rewarding and effective way to make money online. Basically, you have to build a list of prospects and foster good relations and trust with them. When people join your list, they expect quality and useful information in exchange for giving you their name and email address. Ensure that you provide them with quality and useful content. This way, they will trust you and buy affiliate products that you recommend. As a rule, expect to earn one dollar a month for every member on the list. In other words, if you have 5,000 members on your list, you will earn $5000 per month.
Stay tune for part two of this article...
I have listed several money-making methods below. How many are you using to make money on the Internet?
1. Affiliate marketing
This is the most common form of Internet business. In its simplest form, you make a commission when you refer someone to an affiliate website and they buy something. There are tons of affiliate products and services on the Internet. Look out for those with high conversion rates.
Commissions from affiliate programs can be one-off or recurring. Recurring commissions are commonly from subscription based products such as web hosting services or a membership site. You get paid regularly, as long as the subscriber you referred continues to pay for the product or service. This is a good way to build up passive income.
2. Direct retail
If you own an offline business, have access to goods at wholesale prices or make your own products, selling them online would be a good idea. You can sell them on your own website, or simply list them on an auction site. This is a quick way to expand your market. Once you start selling online, you can basically sell to anyone, anywhere in the world. The world is your oyster
There is a downside to this. When selling online, you will have to devote time and energy to customer support, packaging, storage, shipping etc. This can take up valuable time and resources, and detract you from the real task at hand - selling and making money online. Having said that, it can be very lucrative if you are willing to put in the time and effort.
3. Network marketing
There are many online network marketing businesses you can join. The beauty of this model is that you can do it online and offline. Showing your prospects your website when you meet them can be a powerful way to reinforce your sales pitch.
4. Email marketing
This is a very rewarding and effective way to make money online. Basically, you have to build a list of prospects and foster good relations and trust with them. When people join your list, they expect quality and useful information in exchange for giving you their name and email address. Ensure that you provide them with quality and useful content. This way, they will trust you and buy affiliate products that you recommend. As a rule, expect to earn one dollar a month for every member on the list. In other words, if you have 5,000 members on your list, you will earn $5000 per month.
Stay tune for part two of this article...